Short Term Insurance

Questions to ask!

Most people every now and then decide they are paying too much for their vehicle insurance. They do a quick call around and, depending on the price, stay where they are or switch insurers.

To prevent yourself being caught short when it comes to pay out ask the following basic questions before choosing their next house hold and vehicle insurer:

Who is insured under the policy? Is it just you, you and your spouse, or you, your spouse and your licensed children?

In short, does the policy limit drivers to named drivers or include any licensed driver should this become necessary?

What happens to your cover if a debit order bounces?

Will your insurer pay out in the event you have missed a payment or will you will be left high and dry?

Does your insurer cover manufacturer approved parts

What is your excess? Is it a percentage of the loss or a flat fee? Generally percentage excesses result in people paying a lot more than anticipated.

Will your insurer refuse to pay out if you crash while on a work related errand?

Do you have car hire and for how many days?

The biggest risk for a single income person, would be not to insure their vehicle and household. Consider a monthly repayment of R3000 on your vehicle. By not insuring your car, you will still be held liable for the down payment even though your car has been written off. In South Africa, this is for most people the most important tool to get to work in order to generate an income.

Divorcesmart Process

Step 1 - Divorcesmart
When you receive your “sjoe-sjoe” letter it is very normal to panic, be very emotional, cry buckets full of tears and it really feels like it is the end of your world and it most certainly is. But what you won’t see is that is the beginning of your new life.
The aim in...

Financial Emotional IQ

"I drink it when I'm happy and when I'm sad. Sometimes I drink it when I'm alone. When I have company I consider it obligatory. I trifle with it if I'm not hungry and drink it when I am. Otherwise, I never touch it," she once said, "unless I'm thirsty". - Widow Bollinger.
"Champagne...